Alan Greenspan is on Crack
Here's his logic as I read it:
1. I supported Bush's tax cuts for the rich because I thought that "large surpluses would stretch into the future."
2. I was wrong about that. We have deficits instead.
3. Deficits are bad for the economy.
4. As more people retire and collect social security, our practice of running deficits will become even more problematic.
5. I still like the tax cuts.
Conclusion: we should cut social security benefits.
Read the story of his testimony today and see if you can find a hint as to whether he's smoking crack or if he's using it some other way.